Building an EVP and employer brand

Employer value proposition (EVP) is a unique set of advantages which an employee gets in return for the skills, attributes and experience they bring to an organization. A strong EVP motivates employees and helps in attracting a talented set of people.

The five main components of an EVP are:

  1. Financial Rewards: This component acts as a key motivator for the employees. It includes all the financial offerings such as salary, stock options and bonuses.
  2. Employment Benefits: This includes a range of benefits such as health insurance, retirement benefits, sponsored holidays and many more things.
  3. Career Development: Employees want to see what their job has to offer and how the enterprise can contribute to their career development. This majorly includes technical and leadership training, promotion opportunities, and mentoring and career guidance.
  4. Positive Work Environment: It is very important to create a positive working environment where employees can do meaningful work. It incorporates elements like flexible working hours, work-life balance, team building and recognition.
  5. Great Company Culture: Great company culture includes things like trust and collaboration, positive relationship between team members and team communication.

 

Steps for creating an Employee Value Proposition (EVP)

  1. Assess what you currently offer: It should understand what the organization currently is and what it isn’t. Employers should be clear about its branding and should include all the components of EVP. For this to be successful it is important to take opinions from the employees about how well these are being met.
  2. Define the Components of EVP: It’s the time to analyze the findings and to arrive at the company’s new EVP. This will help the company to attract and retain top talent. EVP should also be divided for different roles and levels. For example, an EVP for recent graduates should highlight things like career growth, fun office environment and employee perks. On the other hand, EVP for professionals who are not recent graduates should highlight things like career stability and work-life balance.
  3. Promote EVP: It is very important to promote EVP through company blogs, emails, newsletters and internal communication tools. Employers can also externally promote EVP through social media, such as LinkedIn and website career page.
  4. Review EVP: The first step in the review process is to assess how the key talent is responding to your new EVP. This could be measured through if there is an increase in the applications or increase in responses from past employees. Moreover, one should review its EVP from time to time as people’s expectations change over time.

From our blog

Read our articles below to see our latest insights.

The power of engaging with recruiters

In the fast-paced and ever-evolving professional world, it’s easy to assume that recruiters only serve as gatekeepers for those actively seeking new job opportunities. However, there are numerous benefits of engaging with recruiters, even if you are not actively on the lookout for a new position. By establishing relationships with recruiters, you open doors to…

Ensuring safety in heavy industry

Safety is of paramount importance in heavy industries across the globe. In New South Wales, where heavy industry plays a significant role in the economy, strict safety regulations and requirements are in place to protect workers, the environment, and the surrounding communities. Some of the key safety requirements that heavy industries must adhere to in…

Four ways you can enhance your technology development skills

Improving your tech development skills is essential in today’s rapidly advancing technological landscape. Here are four ways you can enhance your tech development skills:   Continuous Learning: Technology is constantly evolving, so it’s crucial to stay updated with the latest advancements and trends. It is important to engage in continuous learning by exploring online resources,…

The best way to approach looking for a new role

Are you thinking of looking for a new role?   When exploring job opportunities, it’s crucial to invest time in researching the companies you’re interested in. While it can be tempting to apply for multiple opportunities, it is best to ensure that you understand the organisational culture, values, and conditions before making an application, ensuring…

The importance of contract management in procurement

In the realm of procurement, where businesses and organisations engage in purchasing goods and services, contracts play a pivotal role in ensuring successful transactions and minimising risks to businesses. A contract acts as a legally binding agreement between the parties involved, providing clarity, protection, and a framework for executing business transactions. This article aims to…

Building strong communities: 5 important steps in community engagement for infrastructure projects

Infrastructure projects have a profound impact on the communities they serve. Whether it’s building a new road, renovating public spaces, or constructing vital utilities, community engagement plays a critical role in ensuring the success and sustainability of these projects. Effective engagement not only fosters trust and collaboration but also leads to better outcomes that meet…

Navigating the dynamic landscape of accounting and finance in 2023

In today’s fast-paced and interconnected world, the domains of accounting and finance continue to evolve and adapt to ever-changing market conditions and technological advancements. With the advent of new regulations, emerging trends, and transformative technologies, professionals in accounting and finance face a dynamic landscape that requires agility, strategic thinking, and a commitment to staying ahead…

The importance of prioritising phone conversations

Despite the rise of digital communication, phone calls remain an essential part of conducting business. While emails and instant messaging may be viewed as a more convenient option, they often lack the personal touch that comes with speaking to someone over the phone. Unlike written communication, phone calls allow individuals to convey emotions, tone, and…

Best practice for fire safety training

Though unlikely, there will always be the possibility of fires within a workplace. While the industry in which your company falls increases the possible occurrence, fires will and can occur anywhere, at any time. Importance of Fire Safety Training will continue to be a high-ranking importance within the Health, Safety and Environment space.   Conduct…

Marketing strategy
4 ways to improve your marketing strategy

4 ways to improve your marketing strategy Marketing strategies are built on a combination of historical and intuition data. Marketing directors use the relevant statistics to fuel plans for both digital and traditional ad campaigns. Though as the success of marketing strategies becomes more dependent on real-time data and evolving technology, new approaches are necessary…